AS Brivais vilnis said its normalized net income for the second quarter came to a loss of €20,500, compared with a loss of €79,610 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 1.4% from negative 3.9% in the year-earlier period.

Total revenue decreased 27.4% year over year to €1.5 million from €2.0 million, and total operating expenses fell 31.8% on an annual basis to €1.5 million from €2.2 million.

Reported net income came to a loss of €32,810, or a loss of 1 cents per share, compared to a loss of €127,370, or a loss of 4 cents per share, in the prior-year period.